Jim Craig has lived his first 18 years in the mountains of Australia on his father's farm. The death of his father forces him to go to the low lands to earn enough money to get the farm back on its feet.

The story of the 1983 America's Cup challenge, where the Australian team financed by business tycoon Alan Bond, finally wrests the cup from the New York Yacht Club, after an unbroken 132 year winning streak.